A rendering by Fairmount Properties of what the corner of Mount Hope Avenue, left, and Elmwood Avenue would look like once College Town is completed. This view is looking south down Mount Hope.

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A federal loan has been approved for the University of Rochester's $100 million College Town, possibly clearing the way to break ground for the project in November.

U.S. Sen. Charles Schumer, D-N.Y., said Friday that a $20 million Housing and Urban Development loan sought by the city of Rochester for College Town has been secured. Schumer had urged HUD Secretary Shaun Donovan to make a determination on the city's request for the loan by the end of this month.

"This both strengthens the U of R and the city and the link between the two. And what is most important about the loan is that it will leverage ...